Handing over oil prices mechanism to private sector opposed

Handing over oil prices mechanism to private sector opposed

Call to reform highly controversial oil pricing formula

                                                                                             

August 26

The Pakistan Economy Watch (PEW) on Sunday said that government’s decision to allow marketing companies to fix retail prices of major oil products is against the national interests.

The government has been extracting too much from the masses on account of petroleum levy and GST for which it is being criticised on every concerned forum, it said.

Now, the government wants to divert public anger while keeping its income unchanged which is a major factor behind rising inflation, said Dr. Murtaza Mughal, President PEW.

Government’s decision to restrict the role of the Oil and Gas Regulatory Authority (Ogra) will have very negative affect as the private sector will bleed the masses white for profits, he added.

Like all businesses, oil marketing companies are being operated only for profit, they have nothing to do with public convenience and it is feared that they will not transfer the benefit of reduction in international oil prices to masses.

Dr. Murtaza Mughal said that total deregulation of pricing mechanism with weekly price revision will make it difficult to watch the companies and ensure regular supplies to the consumers in remote areas of the country.

He said that the private sector has already started hoarding and black-marketing in the wake of oil prices announcement on fortnightly basis; weekly prices will give it more power to manipulate masses.

Repeated international crises have proved that market forces cannot be trusted to take decision on merit, he added.

He said that the government has never tried to reduce the impact of oil price hike by lowering its share of petroleum levy or reform pricing formula but it wants oil companies to share the blame which will not be without a price.

New pricing mechanism will not absolve the government completely of its responsibility; it should allow Ogra to continuously monitor prices at retail outlets and direct CCP to thwart any possible collusion among the players, said Dr. Mughal.

Masses will face unreasonable hikes if the oil companies are not made to take prior approval from Ministry of Petroleum and Ministry of Finance as companies will hike prices and before any action they would reduce rates while masses will lose billions in the process.

It must be ensured that the latest decision may not contribute to hike in the cost of daily living particularly for the poorest in society.

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Dr. Murtaza Mughal

Cell:  0321-5157671

President Pakistan Economy Watch

www.pakistaneconomywatch.com

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Govt policies leaves products uncompetitive, rate cut useless

Govt policies leaves products uncompetitive, rate cut useless

Dwindling institutions pushing country into the Stone Age

Business community stop believing promises of authorities

Dated: August 25

Attock: The Attock Chamber of Commerce and Industry on Sunday said frequent upward revision in power tariff and hike in petroleum prices and other policies of the government have pushed millions below poverty line while left thousands of businesses bankrupt.

The recent hike aimed at generating extra funds for the government has nullified the positive impact of reduction in the interest rates by the State Bank of Pakistan; it has left many local products have lost competitive edge, it said.

Now, the business community has stopped believing promises of the authorities who have put their survival on stake, said Tariq Mehmood, President of the Attock Chamber of Commerce and Industry while speaking to business community.

He said that mismanagement, inefficiency, inflation, unemployment and decay of the institutions are pushing country into the Stone Age.

Recent hike proves that regressive tax regime has failed to deliver, tax evasion is on the rise and expanses of the rulers are crossing limits which have contributed to record low growth rate since coalition came into power, he added.

Tariq Mehmood, who is also Director Pak-UK Business Council and Chairman FPCCI Committee on Health, said that lack of accountability and transparency has brought a bad name to the country on international level.

He observed that now policymakers are considering expenditure on health, education, sanitation etc. as a burden which is damaging fabric of the society.

The business leader said that whole system is supporting the elite by squeezing poor which has made life very difficult for the common people.  

Capital and talent is flying away from Pakistan due to frustration and political instability, he said adding that government seems not interested in resolving the circular debt which has blocked investment in power sector and helping make PSO a dysfunctional institution.

All plans of the government have backfired and if politics continued to dominate over economics, the future will remain hopeless, warned Tariq.

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Tariq Mehmood

Chairman FPCCI Standing Committee on Health,

Director Pak-UK Business Council, FPCCI,

President Attock Chamber of Commerce and Industry

Cell 0300-5491224---Off: 057-2703337

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Govt asked to improve food security situation

Govt asked to improve food security situation

Business community welcomes Indian group expansion in Pakistan

Attock: Dated: August 22

The Attock Chamber of Commerce and Industry (ACCI) on Wednesday asked government to improve its deteriorating ranking in food security index as almost half of the country’s population remains food insecure.

Every person has a right to physical and economic access to sufficient, safe, and nutritious food on consistent basis that fulfils the dietary needs for living an active and healthy life, it said.

Pakistan has been placed at 75th position amongst the 105 countries ranked by the Global Food Security Index 2012 which has raised concerns, said Tariq Mehmood, President Attock Chamber of Commerce and Industry.

Speaking to business community, he said that affordability, availability and quality of the food in Pakistan needs serious review as it has been ranked lower despite increase in agriculture output which indicates lack of efforts to combat growing hunger, he added.

The business leaders said that Sri Lanka and India have performed better than Pakistan by securing 62nd and 66th positions on the index.

Tariq Mehmood, who is also Director Pak-UK Business Council and Chairman FPCCI Committee on Health, said that government should think seriously about providing cover to 61 million food insecure people which is a major national issue.

Rising food prices, floods, poverty, conflicts, terrorism, energy crisis, economic slowdown and political instability are some of the factors behind hunger, he observed.

Government should consider other aspects of food security besides increasing the wheat production as a bumper wheat crop in the few districts does not guarantee that the rest of the country would have better access to staple, he noted.

Meanwhile, the ACCI welcomed the move by the Indian consumer goods group Godrej to establish operations in Pakistan to become USD 33 billion conglomerate soon. This is a sign of deepening trade between Saarc’s largest neighbours.

The ACCI office bearers and members said that Pakistan is the sixth largest country in the world in terms of population which provide great opportunities for the overseas investors.

USD 83 billion India Tata group is also stepping into Pakistani market while Mian Mohammad Mansha is also opening banks in India, such moves were not possible without the efforts of national business leaders Tariq Sayeed and Iftikhar Ali Malik who devoted their lives for improved ties between two nuclear-armed states, they observed.

Both countries should expedite economic and political reforms and allow direct investments, the businessmen demanded.

--

Tariq Mehmood

Chairman FPCCI Standing Committee on Health,

Director Pak-UK Business Council, FPCCI,

President Attock Chamber of Commerce and Industry

Cell 0300-5491224---Off: 057-2703337

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STOP KILLINGS OF MUSLIMS IN BURMA

Burma's Rohingya Muslims

Is it not our duty to stand up and protest against the sufferings of Myanmar Muslims?

Just go through the facts listed below you will get the answer to the above question.

• As of 2012, 800,000 Muslims (Rohingyas) live in Myanmar (Burma) and the government considers them as resident foreigners.

• As per the United Nations they are the most victimized minorities of the world.

• According to Amnesty International, the Rohingyas have long suffered from human rights violations and as a result, scores of them immigrated to neighbouring countries for better living conditions.

• Currently 300,000 Rohingyas live in Bangladesh and 24,000 in Malaysia and 111,000 of them live in the Thai-Myanmar border.

• The Human Rights Watch considers the denial of the right of citizenship by Government is the most important problem faced by the Rohingyas. Due this they are subject to many abuses, including restrictions on their freedom of movement, discriminatory limitations on access to education and arbitrary confiscation of property.

• According to the website of Arakan Rohingya National Organisation (ARNO), Rohingyas require government permission to marry; they are forbidden from having more than two children and are subjected to modern-day slavery through forced labour.

• Recent Killing (between 10 to 28 June 2012) - “According to a group of UK-based NGOs, more than 650 Rohingya Muslims were killed, 1,200 went missing and more than 80,000 were displaced as a result of rioting, arson and rape”.

• The Burmese army and police were accused of playing a leading role in targeting the Rohingyas through mass arrests and arbitrary violence.

• In a blatant act of censorship, the Western mainstream media have also stayed away from the massacre of Rohingyas, which clearly shows their duplicitous attitude toward the concept of human rights.

Above listed facts clearly answers that the Rohingya Muslims of Myanmar are undergoing intolerable hardships they are living under extremely appalling circumstances. The dictatorial government of Myanmar has deliberately neglected their ordeal and the international community is overlooking their suffering.

We Muslims, apart from praying for them should force international community through mails to pay due attention towards Rohingyas sufferings.

Send as many emails as you can to the following organizations/Personalities.

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